Diddy Sells Stake In REVOLT, Employees Become Majority Stakeholders
Diddy has sold his majority stake in REVOLT, and the current employees are now the company’s largest shareholders, according to The New York Times.
During an interview with Variety, Detavio Samuels, REVOLT’s CEO, discussed the new direction for the company moving forward and the employees becoming shareholders, saying, “This is something that we’ve been looking to do, waiting to do, believing that the people who give this company their blood, sweat and tears should have some sort of upside opportunity if and when we win. All of the data suggests that the companies that have incentive pools for their employees outperform the rest. They perform better financially, they perform better with company morale and culture and they perform better as it relates to retention.”
Combs co-founded REVOLT in 2013 alongside Andy Schuon. However, Sean Combs stepped down as chairman in November 2023 after he was slapped with a series of sexual misconduct lawsuits and allegations, beginning with his ex, Cassie Ventura.
After CNN released hotel footage of Diddy abusing and assaulting Cassie in 2016, REVOLT issued a statement condemning Combs for his actions. “We are deeply saddened and disturbed by the recent video circulating of our former chairman, Sean ‘Diddy’ Combs,” the company said. “Even with his recent separation from REVOLT, it is still our duty to address this matter, and recognize the direct impact it has on our staff, our audience, and the culture we represent.”
Speaking of the hotel footage, Dame Dash recently drew his line in the sand concerning Diddy and his alleged victims.
Dash spoke about Sean Combs’ 2016 abuse of Cassie Ventura as captured in hotel surveillance in an episode of Choppin’ It Up. The Hip-Hop icon shared that it was “very disappointing” to see the unsettling footage,” saying, “It’s very disappointing to see that from someone that again I considered my peer. Because we’re the brotherhood of Hip-Hop, [we’ve] showed a certain degree of respect, but you can’t unsee that, and it’s really a shame.”
As he continued, he began to put himself in the shoes of Ventura’s family, stating that if Combs had abused his daughters, there would be irreversible consequences. In talking about his “problematic” apology video, Dash imagined a conversation with Sean Combs, asking him about his daughters and how he would want them to be treated.
“And what I think when I see that… Number one, I got daughters,” he added. “So, you know, if that were something I would to see happening to my daughter… Puff—he’s dead. I’d go do the time or I’d figure out how not to do the time, but I don’t think I could handle watching another man or a man or any man touching or doing any kind of violence to my daughters.”
He ended his longwinded assertion by declaring that, if he were present in the hallway of the hotel video, he would’ve “hit the ni**a with a chair or something. Just ’cause it was so crazy in that moment.”
Watch the video above.
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